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Dynamic Modeling for Business Management: An Introduction (Modeling Dynamic Systems)
by: Bernard McGarvey, Bruce Hannon

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Binding: Hardcover
Dewey Decimal Number: 519.703
EAN: 9780387404615
ISBN: 0387404619
Label: Springer
Manufacturer: Springer
Number Of Items: 1
Number Of Pages: 314
Publication Date: January 08, 2004
Publisher: Springer
Sales Rank: 733639
Studio: Springer

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Product Description:

Dynamic Modeling for Business Management applies dynamic modeling to business management, using accessible modeling techniques that are demonstrated starting with fundamental processes and advancing to more complex business models. Discussions of modeling emphasize its practical use for decision making and implementing change for measurable results. Readers will learn about both manufacturing and service-oriented business processes using hands-on lessons. They will then be able to manipulate additional models to try out their knowledge and address issues specific to their own businesses and interests. All of the models used in the book along with demo versions of ithink® and Berkeley Madonna™ software are included with the book on a CD-ROM. Some of the topics covered include workflow management, supply-chain management, and business strategy.

Customer Reviews

Average Rating: out of 5 stars

Rating:

- Good book but poor choice of modeling software.
Interesting approach to modeling but it's all dependent on ithink, which is an absolutely old software program with a user interface from the Win 3.1 era. You'll be banging your head against the wall at the archaic nature of the program. Would've been a great program ten+ years ago but today I can't imagine anyone seriously wanting to learn this software. And in all honesty, the financial modeling section is hokey, as the manipulations are much easier done with excel.

Rating:

- Great Book on Business Systems and Simulation
Dynamic Modeling for Business Management is an excellent reference book for business and industrial engineer students and practitioners. The book provides explanations and examples for adding dynamics to some of the basic business systems and processes. The mathematical models introduced in operations research and management science courses have very restrictive assumptions. Simulation allows exploring more realistic models and enables the reader the appreciation the value of adding more realism of systems by having the capability of more realistic properties and feedback mechanisms. An example is waiting lines. In most real situations, the service rate is affected by the current length of the waiting line. Queuing models ignore this. Using simulation, you can model the results of these interdependencies.

The authors include Little's Law and serial workflow processes along with material flows, supply ... Read More

Rating:

- Excellent text for applies dynamic modeling
This is an excellent textbook for an upper-level undergraduate or graduate course in business simulation modeling. It might also be useful in an engineering course on simulation modeling, especially in more applied areas like industrial engineering.

I find the book more accessible, if not as complete, than Sterman's text. By adopting a "hand's on" approach and using the i-Think modeling software, I believe students will also find the concepts more accessible. For users of i-Think, this text has some excellent examples of how the software can be used to model specific manufacturing and supply chain business problems. Even if you aren't an i-Think user (it isn't my first choice) you will still find a lot of practical modeling advice. The math is solid, and there is an interesting twist on Little's Law. For those new to stochastic modeling, the section on modeling random variation is priceless. It takes ... Read More

Rating:

- Good Book and Can Easily Be Put into Practice...
I read this after Sterman's 'Business Dynamics'. While 'Business Dynamics' is a graduate level text book, this book is more aligned to the requirements of practitioners like consultants and managers. MDS have a series of books on use of dynamic modeling, each focusing on a specific area like biological systems, economics, health sciences, environmental systems etc.

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